• Capabilities
  • Expertise
  • Insights
  • About
  • Contact Us
  • enen
  • Back
  • Search
  • Succession
  • Performance
  • Accelerators
  • Transformation
  • Board
  • Back
  • Industries
  • Functions
  • Organizations
  • Back
  • Leadership Topics and Trends
  • Leadership Labs
  • Flagship Research
  • Data and Indices
  • RRA Books
  • Events and Webcast
  • Insights Library
  • Back
  • People
  • Who We Are
  • Careers
  • Newsroom
  • Back
  • Get In Touch
  • Advance Your Career
  • Join the Conversation
  • Find a Local Office
  • Language
  • Login

DAX 40 Management Board & Supervisory Board Moves

Q2 2025

Management Board Moves

Airbus SE

  • Carmen-Maja Rex was appointed Chief Human Resources Officer (CHRO) and Executive Committee member at Airbus SE, effective April 1, 2025. She succeeds Thierry Baril, who has been with Airbus for nearly 22 years, including 12 years as CHRO and Executive Committee member. Baril will leave Airbus SE later in 2025 once the transition to Rex has been completed. Rex most recently served as Human Resources Group Director at Heidelberg Materials.

BMW AG

  • Dr. Joachim Post succeeded Frank Weber as Member of the Board of Management responsible for Development at BMW AG, effective June 1, 2025. Weber concluded his five-year tenure on the Board of Management, having successfully overseen the completion of series development for the ‘Neue Klasse’. Dr. Post’s previous responsibilities as Board Member for Purchasing and Supplier Network have been transferred to Dr. Nicolai Martin, previously Head of Product Line Luxury Class BMW and Rolls-Royce, who also joined the Management Board on June 1, 2025.

Brenntag SE

  • Following the October 2024 announcement of Dr. Kristin Neumann’s departure, Brenntag SE appointed Thomas Reisten as Chief Financial Officer and Member of the Board of Management, effective April 1, 2025. Reisten, formerly CFO of Vantage Towers, played a key role in its carve-out from Vodafone and subsequent IPO. At Brenntag, he has assumed responsibility for accounting, controlling, investor relations, legal, shared services, taxes, treasury, and insurance. His contract runs through March 31, 2028.

  • It has been announced that Jens Birgersson has been appointed Chief Executive Officer and Member of the Management Board of Brenntag SE, effective September 1, 2025. Birgersson has more than 20 years of management experience in listed, international market leading companies in different industries. Most recently, from 2015 to 2024, he served as President and CEO of Rockwool Group, Denmark, the world’s largest manufacturer of insulation materials and systems made from stone wool. He will succeed Christian Kohlpaintner who will step down on August 31, 2025.

Continental AG

  • Following the establishment of three independent entities — Continental AG, ContiTech, and the Tires Group Sector — adjustments have been made to the composition of Continental AG’s Executive Board. Dr. Ariane Reinhart, who has served as Executive Board member for Human Resources and Sustainability and Director of Labor Relations, will step down on June 30, 2025. She will be succeeded by Ulrike Hintze, currently Senior Vice President of Human Resources for the Tires Group Sector, who will assume the role of Director of Labor Relations and Executive Board member for Human Resources at Continental AG, effective July 1, 2025. Hintze will continue to oversee the HR function in the Tires Group Sector concurrently.

  • Chief Executive Officer, Nikolai Setzer, will take over responsibility for Sustainability from Reinhart in addition to his responsibility for IT and Communications.

  • At its meeting on April 25, 2025, the Supervisory Board of Continental AG announced the appointment of Roland Welzbacher to the Executive Board, effective August 1, 2025. Welzbacher, who previously served as Chief Financial Officer of Continental’s Tire Division, will succeed Olaf Schick as Chief Financial Officer following a joint transition period, with the official handover planned for October 1, 2025. The specific allocation and structure of Schick’s responsibilities, including Finance as well as Integrity and Law, will be clarified at a later date. Welzbacher will continue to oversee the Finance and Controlling function in the Tires Group Sector, a role he has held since 2023. Following the planned independence of the ContiTech group sector, Welzbacher will remain on the Executive Board of Continental AG, which will then focus exclusively on the tires business.

Deutsche Bank AG

  • Effective May 1, 2025, Fabrizio Campelli assumed regional responsibility for the Americas, succeeding Stefan Simon, who left the bank for personal reasons. Campelli, a current member of the Management Board, continues to oversee the Corporate Bank and Investment Bank divisions.

  • Deutsche Bank’s Supervisory Board has appointed Dr. Marcus Johannes Chromik as Chief Risk Officer and Member of the Management Board, effective May 20, 2025. Chromik succeeds Olivier Vigneron, who chose not to extend his contract, which expired on May 19, 2025. Chromik has more than 20 years of experience in finance and risk management, including eight years as Commerzbank’s Chief Risk Officer. He joined Deutsche Bank’s Management Board on May 1 and took full responsibility for the Risk function following Vigneron’s departure.

Deutsche Telekom AG

  • Claudia Nemat, Member of the Board of Management responsible for Technology and Innovation at Deutsche Telekom AG, has officially informed the Supervisory Board of her decision not to renew her contract, which is set to expire next year. After 14 years on the Board of Management, Nemat plans to transition into entrepreneurial activities, focusing on international Board mandates. Dr. Abdurazak (Abdu) Mudesir has been named as her successor, effective October 1, 2025. Dr. Mudesir currently reports to Nemat and serves as Group- and German Chief Technology Officer.

Dr. Ing. h.c. F. Porsche AG

  • Following the long-planned generational change to Porsche’s Executive Board, it has been announced that Michael Steiner will assume the role of Deputy Chair of the Executive Board, effective July 1, 2025. He has been Board Member for Research and Development since 2016.

  • Vera Schalwig, Vice President of Human Resources Zuffenhausen, will take on responsibility for the Human Resources and Social Affairs division, succeeding Andreas Haffner.

  • Meanwhile, Joachim Scharnagl, Vice President of Procurement New Vehicle Projects & Supplier Management, will take over the Procurement division from Barbara Frenkel.

Fresenius SE & Co. KGaA

  • After 14 years in office, Prof. Dr. med. D. Michael Albrecht stepped down from the Supervisory Board of Fresenius SE & Co. KGaA, at the Annual General Meeting on May 23, 2025. Prof. Dr. Ralf Kiesslich, Chair of the Board of the University Medical Centre in Mainz, was elected as his successor effective from the close of the meeting.

Hannover Re SE

  • On April 1, 2025, Clemens Jungsthöfel, who previously served as Chief Financial Officer of Hannover Re SE, was appointed Chief Executive Officer. Concurrently, Dr. Christian Hermelingmeier, former Chief Financial Officer of HDI Global and Chair of the Board of Directors at HDI Reinsurance Ireland SE, succeeded Jungsthöfel as Chief Financial Officer.

Merck KGAA

  • Jean-Charles Wirth and Dr. Danny Bar-Zohar were appointed to the Executive Board of Merck KGaA, effective June 1, 2025.

  • Wirth, previously Head of Science & Lab Solutions within Merck’s Life Science business sector, assumed the position of Chief Executive Officer, Life Science, succeeding Dr. Matthias Heinzel who chose not to extend his contract.

  • Dr. Bar-Zohar, formerly Global Head of Research & Development and Chief Medical Officer of Merck’s Healthcare business sector, was appointed Chief Executive Officer, Healthcare. He succeeds Peter Guenter who retired after nearly four decades in the pharmaceutical industry.

MTU Aero Engines AG

  • Katja Garcia Vila was appointed to the Executive Board of MTU Aero Engines AG as Chief Financial Officer Designate, effective April 1, 2025. She succeeds Peter Kameritsch and will officially assume the role on July 1, 2025, following a three-month transition period. Prior to this, Garcia Vila served as Chief Financial Officer at Continental AG.

Vonovia SE

  • On May 6, 2025, Vonovia SE announced that its Supervisory Board has named Luka Mucic — currently Chief Financial Officer of Vodafone Group plc and formerly CFO and Chief Operating Officer of SAP SE — as its next Chief Executive Officer. He will succeed Rolf Buch, who, following mutual agreement with the Supervisory Board, will step down at the end of the year after more than a decade of leadership. Until then, Buch will continue to lead Europe’s largest private residential real estate company and ensure a smooth and structured transition.

This newsletter reflects movements across DAX40 Supervisory Boards and Management Boards that have occurred or been announced in Q2 2025.

 

 

Contact

Jens-Thomas Pietralla
Russell Reynolds Associates
Neuturmstraße 5 | 80331 Munich | Germany
Direct: +49-89-2489-8151
jt.pietralla@russellreynolds.com

Supervisory Board Moves

Airbus SE

  • Dr. Doris Höpke has been elected a Non-Executive Member of the Supervisory Board of Airbus SE, succeeding Claudia Nemat who stepped down at the Annual General Meeting on April 15, 2025. Dr. Höpke currently serves on the Supervisory Board of Mercedes-Benz Group AG and previously held a position on the Board of Management at Munich Re.

Allianz SE

  • Dr. Friedrich Eichiner (having reached the company’s age limit of 70) officially stepped down as Supervisory Board Member and Chair of the Audit Committee at Allianz SE at the Annual General Meeting on May 8, 2025. He has been succeeded by Prof. Dr. Ralf Peter Thomas, Chief Financial Officer of Siemens AG. In addition to his role at Siemens, Dr. Thomas also chairs the Supervisory Board of Siemens Healthineers AG and serves on the Board of Allianz SE’s German property insurance subsidiary. His contract with Siemens AG runs through 2026.

BMW AG

  • Dr.-Ing. Norbert Reithofer concluded his mandate as Chair of the Supervisory Board at the Annual General Meeting on May 14, 2025, following the end of his second term. He is succeeded by Dr. Nicolas Peter, former BMW AG Board Member for Finance (2017–2023), who has broad international experience across Finance, Sales, and in-depth knowledge of the Chinese market. Dr. Peter completed the required two-year cooling-off period in May 2025. He also serves on the Board of Directors of BNP Paribas SA.

Brenntag SE

  • At the Annual General Meeting on May 14, 2025, shareholders approved the expansion of Brenntag SE’s Supervisory Board from six to eight members to complement the competencies and expertise of the Supervisory Board, and thus respond to increased demands placed on Supervisory Boards in global companies.

  • With Dr. Andreas Rittstieg stepping down after 15 years, three new members joined the Supervisory Board: Dominik de Daniel, CEO of Kühne Holding AG, with over 20 years of C-suite experience in global, listed service companies; Karl von Rohr, former Deputy CEO of Deutsche Bank AG, with nearly three decades of leadership in financial services and family-owned businesses; and Susanne Wiegand, former CEO of RENK Group AG, with extensive operational expertise and a strong track record in growth, IPOs, and transformation across industrial sectors.

Commerzbank AG

  • Dr. Jutta Dönges and Dr. Gertrude Tumpel-Gugerell resigned from the Supervisory Board, effective following the end of the Annual General Meeting on May 15, 2025. Their successors to the Supervisory Board effective at the close of the meeting are: Sabine Lautenschläger-Peiter, former member of the Executive Board of the European Central Bank (ECB) and of the Single Supervisory Mechanism at the ECB, and Dr. Michael Gorriz, former Global Chief Information Officer of Standard Chartered Bank.

Daimler Truck Holding AG

  • John Krafcik has officially stepped down as Shareholder Representative on the Supervisory Board of Daimler Truck Holding AG, effective at the conclusion of the Annual General Meeting on May 27, 2025. Due to the timing of his resignation and legal convening deadlines, the election of a successor could not be included in this year’s AGM agenda. The Stuttgart District Court has judicially appointed successor Kurt Sievers as a member of the Supervisory Board. Sievers will be formally proposed for election at the 2026 AGM, which will coincide with the scheduled election of all Shareholder Representatives to the Supervisory Board.

Deutsche Bank AG

  • At the Annual General Meeting on May 22, 2025 Kirsty Roth, Chief Operations & Technology Officer at Thomson Reuters, and Klaus Moosmayer, former member of the Executive Committee and Chief Ethics, Risk & Compliance Officer at Novartis AG, were elected to the Supervisory Board. They succeed Dr. Theodor Weimer and Dr. Dagmar Valcarcel whose terms ended at the close of this year’s AGM.

Deutsche Börse AG

  • Martin Jetter, Shareholder Representative and Chair of the Supervisory Board of Deutsche Börse AG, concluded his tenure at the close of the Annual General Meeting on May 14, 2025. He was succeeded by Clara-Christina Streit, a member of the Supervisory Board since May 2019.

  • Jean-Pierre Mustier, former CEO of Atos SE and UniCredit S.p.A., was elected to the Supervisory Board at the AGM and will serve for the remainder of Martin Jetter’s term until the AGM 2027.

Deutsche Post AG

  • At the Annual General Meeting on May 2, 2025, Dr. Nikolaus von Bomhard concluded his tenure as Chair of the Supervisory Board, having decided not to seek re-election after two full terms. He is succeeded by Professor Dr. Georg Pölzl, former CEO of Austrian Post AG, who was elected to the Supervisory Board with a mandate until the AGM in 2029.

  • Following the AGM, the Supervisory Board elected Dr. Katrin Suder as its new Chair. A physicist by training, Dr. Suder is widely regarded as a leading authority on artificial intelligence, digital transformation, cyber security, and geopolitics. Her professional background includes leadership roles at McKinsey & Co., service as State Secretary at the German Federal Ministry of Defense, and Chair of the Digital Council of the German Federal Government.

Deutsche Telekom AG

  • At the Shareholders’ Meeting on April 9, 2025 Rachel Empey, former Member of the Board of Management at Fresenius Management SE, and Natalie Knight, former Board Member at Stellantis N.V., were elected to the Supervisory Board. They succeeded Lars Hinrichs who resigned in January 2025 and Dr. Helga Jung whose term ended at the conclusion of the AGM.

Henkel AG & Co KGAA

  • James Rowan resigned from the Shareholders’ Committee of Henkel AG & Co. KGaA, effective at the close of the Annual General Meeting on April 28, 2025. Sabrina Soussan, former CEO and Chair of Suez S.A., has been elected as his successor, effective immediately after the AGM. Soussan will serve for the remainder of Rowan's term, which runs until the Annual General Meeting resolving the discharge of the Shareholders’ Committee for the 2027 financial year.

MTU Aero Engines AG

  • Dr. Peter Weckesser, Chief Digital Officer and Member of the Executive Committee of Schneider Electric SE, and Dr. Detlef Kayser, Independent Consultant and former Member of the Executive Board of Lufthansa AG, have been elected to the Supervisory Board of MTU Aero Engines AG at the Annual General Meeting held on May 8, 2025. They succeed Prof. Dr. Marion A. Weissenberger-Eibl, whose term ended at the conclusion of the Meeting, and Dr. Johannes Bussmann who stepped down from the Supervisory Board to prepare for his transition to MTU Aero Engines AG’s Chief Executive Officer.

QIAGEN N.V.

  • Stephen H. Rusckowski has been elected Chair of the Supervisory Board of QIAGEN N.V., succeeding Lawrence A. Rosen, who stepped down following the Annual General Meeting on June 26, 2025. Rosen, a member of the Supervisory Board since 2013 and Chair since August 2020, concluded his tenure after more than a decade on the Board. Rusckowski, who joined the Supervisory Board in 2023 and has chaired the Nomination & Governance Committee, brings extensive international leadership experience in the healthcare sector. His previous roles include Chair, President, and CEO of Quest Diagnostics, as well as CEO of Philips Healthcare.

  • Prof. Dr. Elaine Mardis has decided to step down from the Supervisory Board having served since 2014 and played a vital role as a member of the Science & Technology Committee. After the Annual General Meeting, the Supervisory Board will be reduced to eight members, aligning with the plan announced in 2024 to streamline its structure and restore its composition to historical norms.

Rheinmetall AG

  • At the Annual General Meeting of Rheinmetall AG held on May 13, 2025, Sigmar Gabriel, Independent Director and former German Federal Government Minister, and Prof. Dr. Sabine Jeschke, Chief Executive Officer of KI Park e.V. and former Executive Board Member of Deutsche Bahn AG, were elected to the company’s Supervisory Board. They succeed Prof. Dr. Susanne Hannemann and Klaus-Günter Vennemann.

RWE AG

  • At RWE AG’s Annual General Meeting on April 30, 2025, Dr. Werner Brandt did not stand for re-election and concluded his tenure as Chair of the Supervisory Board having held the position since 2013. Dr. Stefan Schulte, Chair of the Executive Board of Fraport AG, was elected as a new member of the Supervisory Board.
    • Following the AGM, the Supervisory Board proposed Dr. Frank Appel as the new Chair of the Supervisory Board. Dr. Appel is the former Chief Executive Officer of Deutsche Post DHL Group, currently serves as Chair of the Supervisory Board of Deutsche Telekom AG and has been a member of RWE’s Supervisory Board since May 3, 2024.

SAP SE

  • SAP have said that they will propose Rene Obermann to join their Supervisory Board at its Annual General Meeting in 2026.

Volkswagen AG

  • On May 20, 2025, Olaf Lies was elected to the Supervisory Board of Volkswagen AG. He is the Minister-President of the Federal State of Lower Saxony and previously served on Volkswagen AG’s Supervisory Board from February 19, 2013 to December 14, 2017. He succeeds Stephan Weil, the former Minister-President of the Federal State of Lower Saxony.

Vonovia SE

  • At Vonovia SE’s Annual General Meeting on May 28, 2025, Michael Rüdiger, former Executive Chairman of DekaBank, and Dr. Marcus Schenck, former Chief Financial Officer of E.ON SE as well as Deutsche Bank AG, were elected to the Supervisory Board. They succeed Ute Geipel-Faber and Hildegard Müller, whose mandates concluded at the close of this year’s AGM.

Zalando SE

  • At the Annual General Meeting of Zalando SE on May 27, 2025 Alice Delahunt, Chief Executive Officer and Founder of SYKY, Inc. (a next-generation platform shaping the future of luxury fashion) and former Chief Digital & Content Officer at Ralph Lauren, was elected as a new member of the Supervisory Board. She succeeds Jennifer Hyman, whose term concluded at the close of the meeting.

This newsletter reflects movements across DAX40 Supervisory Boards and Management Boards that have occurred or been announced in Q2 2025.

 

 

Contact

Jens-Thomas Pietralla
Russell Reynolds Associates
Neuturmstraße 5 | 80331 Munich | Germany
Direct: +49-89-2489-8151
jt.pietralla@russellreynolds.com